Speech #1020076029

Mr. President. the senior Senator from Hawaii and I will propose an amendment which provides $2 billion in absorption guarantees for fiscal year 1992 and for a like amount in each of the following 4 fiscal years. to help Israel finance absorption costs associated with the resettlement of Soviet and Ethiopian refugees. The administration has asked that Congress delay consideration of this bill. and Senator INOUYE and I. and others. will continue our dialogue with the administration on that request. In the meantime. we believe it is important that this amendment be put forward so that whatever the timing of its enactment. we can more closely examine the substance of this proposal. The massive wave of immigration into Israel which began in 1989 continues. Since then. nearly 350.000 have immigrated to Israel. and it is estimated that the total will reach 1 million by the end of 1995. This tremendous immigration is the fruition of United States policy on Soviet Jewry begun by our late esteemed colleague. Senator HENRY JACKSON. Through successive administrations going back 20 years. we made the free immigration of Soviet Jews a cornerstone of United States foreign policy. The scope of this current immigration is unlike anything Israel has seen since after World War II and the creation of the State. It represents nearly a 25percent increase in her total population. This legislation answers many concerns expressed by our colleagues and others. including the administration. in a manner we believe will result in support from all parties involved. I would like to explain some of its provisions. As requested by the Government of Israel. this bill provides loan guarantees to Israel to help defray the extraordinary costs of resettling and absorbing Ethiopian and Soviet refugees. The program is similar to the $400 million housing guarantee we provided last year. The loan guarantees under the legislation shall be obligated and committed within 30 days of the request. and issued within 60 days of the request.